Arbutus Biopharma Corporation announced that William Collier will retire from his position as the Company's President and Chief Executive Officer, and as a member of the Board of Directors, at the end of 2023.Michael J. McElhaugh, Co-founder and Chief Operating Officer of Arbutus, will serve as Interim President and Chief Executive Officer, effective January 1, 2024. Mr. McElhaugh will also join the Board at that time. Mr. Collier and Mr. McElhaugh will work together closely to ensure a smooth transition.

About Michael J. McElhaugh: Since co-founding Arbutus, Mr. McElhaugh has served in multiple leadership roles including Chief Operating Officer, Chief Business Officer and Senior Vice President of Business Development and Commercial Strategy since July 2014. Mr. McElhaugh has more than 20 years of scientific, strategic, transactional and commercial experience spanning various operating roles within the pharmaceutical and biotech industries. Mr. McElhaugh joined Arbutus when it merged with OnCore Biopharma where he was a co-founder and served as its Chief Operating Officer.

Prior to OnCore, Mr. McElhaugh was the Director, Hepatitis C Worldwide Commercialization at Bristol-Myers Squibb. Prior to Bristol-Myers Squibb, Mr. McElhaugh was the Director, Business Development and Market Analytics at Pharmasset Inc. and remained in that role following the acquisition by Gilead Sciences Inc.Mr. McElhaugh also previously held various positions at Viropharma Inc. and at Merck and Co. Inc.Mr. McElhaugh received a B.S. degree from St.

Joseph's University, an M.S. degree from Thomas Jefferson University and an M.B.A. degree from the Johnson Graduate School of Management at Cornell University.